Big trade news out of Washington yesterday: data released showed that $1.4 billion in GSP-eligible goods were imported in November. Unfortunately, since GSP was expired, American companies paid an extra $53.7 million in taxes. Most of the companies paying those taxes are small businesses that can least afford them. Nearly 80 percent of companies on...
Continue readingWhile all responses to our August/September expiration survey are appreciated, we love the submissions that allow us to quote them directly. The following comment comes from Candace Abitbul at Sophia Foods in Brooklyn, New York. This family-owned (very) small business paid $3,700 in extra import taxes in August and expects to pay another $7,00...
Continue readingOne of our latest GSP expiration survey responses shows how the new tariffs harm not just American companies and consumers, but also the small producers in developing countries that GSP was originally designed to help. The submission came from Kelly Weinberger of WorldFinds in Westmont, IL. The company employs 8 people domestically and works with.....
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